Generation Xers are known for a lot of things. They're cynical, yet entrepreneurial, individualistic, and super tech-savvy. But some fear that, soon, they'll be known for something else – their total and complete lack of planning and preparation for retirement. Here's what you need to know.

Historically, most people didn't even think about their retirement until they were practically knocking on its door. But then again, there was a time when most people earned a living working the land, and the chances were pretty good that their children would assume their duties as they aged. There was also a time, more recently, when pensions dominated professionals' visions of retirement, rather than the 401Ks of today, and the cost of living was far less. Not to mention, the cost of health insurance....

Generation Xers (born between 1965 and 1980) aren't getting as much attention as they used to. Millennials have increasingly worked their way into the headlines, stealing the show with their confidence (some say, overconfidence), independence, and out-of-the box approach to work, life, family, and just the world in general.

The current path that Gen X and late baby boomers are on puts them in a place of earning a mere 50 percent of what they earn now once they're retired. What factors are driving this disturbing phenomenon?